Worth Financial Advisory Group LLC Has $577,000 Stock Position in Palo Alto Networks, Inc. (NASDAQ:PANW)

Worth Financial Advisory Group LLC raised its position in Palo Alto Networks, Inc. (NASDAQ:PANW) by 92.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,172 shares of the network technology company’s stock after buying an additional 1,523 shares during the period. Worth Financial Advisory Group LLC’s holdings in Palo Alto Networks were worth $577,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in PANW. SJS Investment Consulting Inc. boosted its holdings in shares of Palo Alto Networks by 97.2% in the 4th quarter. SJS Investment Consulting Inc. now owns 140 shares of the network technology company’s stock worth $25,000 after acquiring an additional 69 shares in the last quarter. Valued Wealth Advisors LLC boosted its stake in Palo Alto Networks by 246.3% in the fourth quarter. Valued Wealth Advisors LLC now owns 142 shares of the network technology company’s stock worth $26,000 after purchasing an additional 101 shares in the last quarter. Abound Wealth Management grew its holdings in shares of Palo Alto Networks by 97.3% during the fourth quarter. Abound Wealth Management now owns 146 shares of the network technology company’s stock worth $27,000 after purchasing an additional 72 shares during the last quarter. Atlantic Edge Private Wealth Management LLC increased its stake in shares of Palo Alto Networks by 265.0% in the fourth quarter. Atlantic Edge Private Wealth Management LLC now owns 146 shares of the network technology company’s stock valued at $27,000 after buying an additional 106 shares in the last quarter. Finally, Capital Advisors Ltd. LLC raised its holdings in shares of Palo Alto Networks by 102.6% in the fourth quarter. Capital Advisors Ltd. LLC now owns 156 shares of the network technology company’s stock valued at $28,000 after buying an additional 79 shares during the last quarter. 79.82% of the stock is owned by institutional investors.

Palo Alto Networks Stock Performance

NASDAQ PANW opened at $184.96 on Thursday. Palo Alto Networks, Inc. has a 52 week low of $132.50 and a 52 week high of $208.39. The stock’s 50 day moving average price is $187.53 and its two-hundred day moving average price is $185.38. The stock has a market capitalization of $122.46 billion, a price-to-earnings ratio of 104.20, a PEG ratio of 5.64 and a beta of 1.04.

Palo Alto Networks (NASDAQ:PANW) last announced its quarterly earnings data on Thursday, February 13th. The network technology company reported $0.81 EPS for the quarter, topping analysts’ consensus estimates of $0.75 by $0.06. Palo Alto Networks had a net margin of 14.64% and a return on equity of 21.93%. The business had revenue of $2.26 billion for the quarter, compared to analyst estimates of $2.24 billion. On average, equities research analysts forecast that Palo Alto Networks, Inc. will post 1.76 EPS for the current year.

Analyst Ratings Changes

Several research firms have weighed in on PANW. Citigroup raised their price objective on shares of Palo Alto Networks from $205.00 to $220.00 and gave the company a “buy” rating in a research report on Tuesday, February 25th. KeyCorp boosted their price objective on shares of Palo Alto Networks from $217.00 to $240.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 11th. Guggenheim lowered Palo Alto Networks from a “neutral” rating to a “sell” rating and set a $130.00 price objective on the stock. in a research report on Monday, January 6th. Westpark Capital reissued a “hold” rating and issued a $196.40 target price on shares of Palo Alto Networks in a research note on Wednesday, February 12th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $225.00 price target on shares of Palo Alto Networks in a research note on Monday, February 10th. Three equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating, twenty-eight have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $205.06.

Insider Activity

In related news, CAO Josh D. Paul sold 700 shares of the firm’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $181.22, for a total value of $126,854.00. Following the completion of the transaction, the chief accounting officer now directly owns 47,976 shares of the company’s stock, valued at approximately $8,694,210.72. This trade represents a 1.44 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Lee Klarich sold 99,707 shares of the company’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $182.45, for a total transaction of $18,191,542.15. Following the sale, the executive vice president now directly owns 358,197 shares in the company, valued at $65,353,042.65. This trade represents a 21.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,122,864 shares of company stock worth $204,315,811 in the last quarter. Corporate insiders own 2.50% of the company’s stock.

Palo Alto Networks Profile

Palo Alto Networks, Inc provides cybersecurity solutions worldwide. The company offers firewall appliances and software; and Panorama, a security management solution for the global control of network security platform as a virtual or a physical appliance. It also provides subscription services covering the areas of threat prevention, malware and persistent threat, URL filtering, laptop and mobile device protection, DNS security, Internet of Things security, SaaS security API, and SaaS security inline, as well as threat intelligence, and data loss prevention.